Goldman and Stonepeak infra funds invest in telecom business

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Goldman and Stonepeak infra funds invest in telecom business

Vertical Bridge Holdings, LLC, a privately owned real estate investment trust focused on the ownership of wireless communications towers in the U.S., today announced that it has secured over $470 million of incremental equity commitments in a second round capital raise to support its acquisitions, new tower build programs, and growth strategy.

With the closing of these commitments, which include significant additional equity from existing investors Digital Bridge Holdings, LLC and The Jordan Company, and major new commitments from GS Infrastructure Partners and Stonepeak Infrastructure Partners.

Vertical Bridge has secured equity capital commitments of $750 million.

Vertical Bridge has closed 23 acquisitions to date in 2014, including 4 deals completed since October 1, the company said.

Alexander L. Gellman, CEO and Co-Founder of Vertical Bridge:

"Vertical Bridge now has over $750 million of committed equity, and alongside our existing $270 million senior credit facility, we have over $1 billion of immediately investable capital to fund our growth. We are pleased that Digital Bridge and The Jordan Company increased their commitments, and welcome the opportunity to work with well-established partners such as GS Infrastructure Partners and Stonepeak."

Marc Ganzi, CEO of Digital Bridge Holdings, LLC, said:

"We are extremely excited to support the Vertical Bridge team with the largest commitment among this high quality equity investor group. We remain very bullish on the U.S. tower space, and are pleased to provide the Vertical Bridge team with the capital necessary to assist our wireless carrier partners in the deployment of their ongoing and future network needs."

Eion Hu, Senior Partner at The Jordan Company, said:

"Since the day we first invested in Vertical Bridge, we have become even more excited about our partnership with Marc, Alex and the rest of the Vertical Bridge team. They have proven themselves to be a superior management team in an industry benefiting from significant demand drivers. We are thrilled with this opportunity to increase our equity commitment in Vertical Bridge."

Edward Pallesen, Head of Americas for GS Infrastructure Partners at Goldman Sachs, said:

"As global infrastructure investors, we look for opportunities to partner with best-in-class management teams in industries that can provide stability and attractive prospects. We believe Vertical Bridge stands out in the wireless tower sector and we are excited to work with management on their next phase of growth."

Trent Vichie, Senior Managing Director & Co-Founder of Stonepeak Infrastructure Partners, said:

"We view the U.S. tower sector as the critical infrastructure enabling connectivity in the U.S. wireless telecom industry. We are thrilled to have the opportunity to be involved in this space through our partnership with Vertical Bridge, Digital Bridge, and their other financial partners."

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